In 2021/22, women under 75 received annual income of £12,168.

That was £52 more than their male counterparts who received £12,116 that year, marking a sharp reversal of the previous years’ data where the income of male retirees was £988 higher.

The data was not so positive for single female pensioners over the age of 75 who received £2,236 less than the men in their cohort in 2021/22.

Over the past decade, the average annual income gap between the older cohort of single retirees is £1,466, which is nearly double the average annual income gap between younger pensioners (£780).

The data has been published by pension and employee benefits consultancy Broadstone.

Damon Hopkins, head of DC workplace savings at Broadstone, said: “On the face of it, the closing of the gender income gap among younger pensioners is good news.

“However, viewing this data in a broader context, it’s clear that there is a high number of people that will not achieve a comfortable standard of living in retirement.”

Mr Hopkins said the figures are further evidence of the urgent need for the Government and all stakeholders in the pensions industry to prioritise ratcheting up contribution rates and investment innovation in the years to come.

He said: “This will be crucial to ensuring both male and female pensioners can build up adequate pension savings.”